The Angel Investor Tax Credit (AITC) program incents investors to invest in Kansas start-up businesses. In exchange for investing in a participating start-up businesses, an investor can receive a tax credit equal to up to 50% of their investment. As part of this audit, we surveyed investors and businesses that participated in the AITC program. The purpose of the surveys was to learn how the program influenced investors' and businesses' behaviors. Investors who responded to our survey told us the program caused them to invest more or sooner in participating businesses. Businesses who responded to our survey told us the program helped them do more than they otherwise would have been able to (e.g., hiring more staff or offering more products). As part of this audit, we also evaluated whether Commerce implemented a process to make sure participating businesses stayed in Kansas as required by state law. We determined Commerce had implemented a process, but the process has room for improvement.